WeWork Inc. [WE] moved down -14.47: Why It’s Important

WeWork Inc. [NYSE: WE] price plunged by -14.47 percent to reach at -$0.34. The company report on October 17, 2022 that WeWork Announces Date of Third Quarter 2022 Results Conference Call.

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WeWork Inc. (NYSE: WE) (“WeWork”), the leading global flexible space provider, today announced that on Thursday, November 10, 2022, it will issue financial results for the third quarter ending September 30, 2022. The company will conduct a conference call at 8:00 AM ET, following the release of its earnings materials.

Earnings call details, the company’s earnings release, and related materials will be available on WeWork’s Investor Relations website at investors.wework.com. A replay of the conference call will be available at the same website after the call.

The one-year WE stock forecast points to a potential upside of 76.01. The average equity rating for WE stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on WeWork Inc. [WE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WE shares is $8.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WE stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

UBS have made an estimate for WeWork Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 29, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on June 23, 2022, representing the official price target for WeWork Inc. stock. Previously, the target price had yet another raise to $9, while Mizuho analysts kept a Buy rating on WE stock.

The Average True Range (ATR) for WeWork Inc. is set at 0.26, with the Price to Sales ratio for WE stock in the period of the last 12 months amounting to 0.52.

WE Stock Performance Analysis:

WeWork Inc. [WE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.47. With this latest performance, WE shares dropped by -41.57% in over the last four-week period, additionally sinking by -68.98% over the last 6 months – not to mention a drop of -78.55% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WE stock in for the last two-week period is set at 26.09, with the RSI for the last a single of trading hit 23.34, and the three-weeks RSI is set at 29.20 for WeWork Inc. [WE]. The present Moving Average for the last 50 days of trading for this stock 3.68, while it was recorded at 2.27 for the last single week of trading, and 5.77 for the last 200 days.

Insight into WeWork Inc. Fundamentals:

WeWork Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

WeWork Inc. [WE] Insider Position Details

There are presently around $1,227 million, or 89.30% of WE stock, in the hands of institutional investors. The top three institutional holders of WE stocks are: SB GLOBAL ADVISERS LTD with ownership of 324,348,048, which is approximately 0% of the company’s market cap and around 1.20% of the total institutional ownership; FMR LLC, holding 83,506,868 shares of the stock with an approximate value of $167.85 million in WE stocks shares; and SB INVESTMENT ADVISERS (UK) LTD, currently with $162.97 million in WE stock with ownership of nearly 0% of the company’s market capitalization.

80 institutional holders increased their position in WeWork Inc. [NYSE:WE] by around 58,744,218 shares. Additionally, 55 investors decreased positions by around 16,504,947 shares, while 23 investors held positions by with 535,141,619 shares. The mentioned changes placed institutional holdings at 610,390,784 shares, according to the latest SEC report filing. WE stock had 49 new institutional investments in for a total of 3,883,312 shares, while 34 institutional investors sold positions of 8,605,908 shares during the same period.


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